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FORMED IN 1991 AND STARTED OPERATIONS IN 1992. REGIONAL AND INTERNATIONAL, CHARTER, PASSENGER AND CARGO, JET AIRPLANE SERVICES, THROUGHOUT EUROPE.
PO BOX 40970
97 ARTEMIDOS AVENUE
CY-6308 LARNACA, CYPRUS
CYPRUS WAS ESTABLISHED IN 1960, COVERS AN AREA OF 5,896 SQ KM, AND ITS POPULATION IS 0.6 MILLION. THE CAPITAL CITY IS NICOSIA AND THE OFFICIAL LANGUAGE IS GREEK.
APRIL 1999: 150 EMPLOYEES (37 FLIGHT CREW (FC), 58 CABIN ATTENDANTSB (CA), & 3 MAINTENANCE TECHNICIANS (MT).
CYPRUS AIRWAYS (CYP) OWNS 100%. (ECY) IS A CHARTER SUBSIDIARY OF (CYP), OPERATES TO 45 EUROPEAN AIRPORTS FOR INCLUSIVE TOUR PASSENGERS (PAX).
(email@example.com). SITA: LCAOOUI. LCAOCUI.
APRIL 2000: 150 EMPLOYEES (INCL 37 FLIGHT CREW (FC), 58 CABIN ATTENDANTS (CA), & 3 MAINTENANCE TECHNICIANS (MT)).
DECEMBER 2000: IN APRIL 2001, TO KEFLAVIK (BI-WEEKLY).
FEBRUARY 2001: 4 ORDERS (FEBRUARY 2002) 737-800'S, CYPRUS AIRWAYS (CYP) WET-LEASED. 2 A320-231'S (414, 5B-DBJ; 430, 5B-DBK), (CYP) WET-LEASED.
MARCH 2001: SCHEDULED SERVICE TO RHODES (WEEKLY).
APRIL 2001: FIRST FLIGHT FROM VIENNA TO PAFOS (SEE PHOTO) WITH THE FIRST FEMALE CAPTAIN OF EUROCYPRIA (ECY), CAPTAIN LOUIZA PATSIOU AT THE CONTROLS.
FIRST DIRECT FLIGHT FROM ICELAND TO CYPRUS.
COMPONENT MANAGEMENT SUPPORT FOR 2 A320'S TO FLS AEROSPACE (ATD).
EUROCYPRIA AIRLINES (ECY) IS TO BE SEPARATED FROM ITS PARENT CYPRUS AIRWAYS (CYP), AS IT SEEKS TO EXPAND AND DEVELOP INDEPENDENTLY.
THE 5 A320'S WILL BE RETURNED AT THE END OF 2002, AND REPLACED WITH 4 737-800'S. INTENDS TO HAVE ITS OWN FLEET AND CONDUCT ITS OWN MAINTENANCE.
AUGUST 2001: 185 EMPLOYEES. SITA: LCAOOUI, LCAOCUI, LCAPSUI.
April 2002: (http://www.eurocypria.com.cy).
Owners/Shareholders: Cyprus Airways (CYP) (100%).
Main Base: Larnaca International airport (LCA).
September 2002: Signs up for Boeing Portable Maintenance Aid (PMA) troubleshooting software.
February 2003: Cyprus Airways (CYP) is to sell 49% of EuroCypria Airlines (ECY) to 2 northern European tour operators to counter competition from pan-European tour groups.
1st 737-8Q8 (32796, 5B-DBU), 189Y, with winglets, (ILF) leased, delivery.
June 2003: 185 employees.
May 2004: 189 passengers traveled on Eurocypria (ECY)’s first flight from Turku airport in Finland to Larnaca. The Turku flights, which are operated on behalf of tour operator My Travel, operate every Tuesday up until the 19th October 2004.
July 2004: Eurocypria (ECY) operated its first flights from Madrid, Barcelona and Lisbon airports. The flights are operated on behalf of tour operators Iberojet in Spain, Grantur in Portugal and Louis Tourist Agency ltd in Cyprus. Louis Tourist Agency ltd, is also the representative for all these flights in Cyprus. All flights operate every Monday and run through until August 2004 apart from the Lisbon flight that operates until September 2004.
October 2004: In mid-October, Eurocypria (ECY) operated its first flights from Finland to Sharm el Sheikh and Luxor in Egypt.
The departures are from various Finnish airports such as Savonlinna, Helsinki, Kemi, Kokkola, Tampere, Vaasa, Joensuu, Kuopio and Jyvaskyla. All flights are operated on behalf of tour operator TopMatkat, every Monday and run through until April 2005. These destinations have been added to the growing list of the 50 airports that (ECY) flies to in 15 countries.
February 2005: During a ceremony in London organized by Argo Holidays, Eurocypria (ECY) was awarded as “Best Charter Airline “ for 2004. These awards are presented annually to organizations in the travel industry, having considered the comments of their customers as well as evaluations of staff and management of Argo Holidays.
April 2005: This month saw the commencement of flight operations from Heraklion for Eurocypria Airlines (ECY). During Summer 2005, Eurocypria (ECY) will operate flights from Crete to 13 European destinations in 6 countries, with an A320 airplane, which will be based in Heraklion. This brings the total number of airplanes operated by (ECY) to five, and the airports served to 51, in 15 different countries. The first flight from Heraklion to Paris Charles de Gaulle airport carried 159 passengers on behalf of French Tour Operator Vacances Heliades.
(ECY), Boeing (TBC) & (CFM) International, celebrated 10,000 flights together. It has been two years now since (ECY) replaced its fleet with 737-800 airplanes. Speaking at a press conference, Mr George Souroullas, General Manager of (ECY) described the 737-800 as the most appropriate type of airplane for charter airlines. The 737-800 only equipped with (CFM56) engines has played a significant role in the successful course of the airline; the technical reliability of the airplane remains at very high levels in the region of 99.5%, while the low maintenance cost, savings in fuel consumption and increased passenger revenue due to the higher seat capacity have all contributed towards this success.
2004 was another profitable year for (ECY), with profits reaching +CYP1.9 million before taxation. Low operating costs, high productivity, flexibility, speed in the decision making process, and aggressive commercial efforts, are among the reasons quoted by Mr Souroullas for this positive result. Figures for 2004 show an increase in the company's revenues. The number of flights increased by +11.5% to 1,845 compared to 1,655 in 2003, whereas the number of passengers carried rose to 563,998 compared to 500,178 in 2003, an increase of +12.8%. During the year, the company achieved passenger revenue of CYP40.3 million in comparison to CYP35.5 in 2003, an increase of +CYP4.8 million or +13.5%.
(ECY) has also managed to strategically reduce its dependence on specific markets and clients, by increasing its client base by +50% and by penetrating into new markets like France, Poland, Finland and Cyprus.
May 2005: 191 employees (including 40 Flight Crew (FC), 78 Cabin Attendants (CA), & 9 Maintenance Technicians (MT)).
July 2005: July marked the commencement of scheduled flight operations to Saint Petersburg by Eurocypria Airlines (ECY), following two years of stern negotiations. (ECY) will operate weekly flights from Larnaka to Saint Petersburg, every Friday. The airplane will depart Cyprus at 10 pm local time, taking 4 hours 45 minutes to reach St Petersburg. The return flight to Cyprus will depart early Saturday morning, at 1.30 am.
September 2005: Cyprus Airways (CYP) intends to present a restructuring plan to the European Commission (EC) by next month. The government-controlled carrier, which was affected by the costs associated with the shutdown of its financially troubled Greek subsidiary Hellas Jet (HEJ) in May, posted a net loss of CYP20.4 million/$44.7 million for the first half of 2005. The (EC) approved an emergency loan of $64 million in May but further aid is subject to completion of an (EU)-approved plan to return the carrier to commercial viability. Options being looked at include the practicality of running two separate airlines within the group, possible redundancies and outsourcing. The group maintains (CYP) for scheduled flights and (ECY) for charter services. It operates two A319s, seven A320s and two A330-200s. The government owns 69.6% of the company with private investors holding the rest.
January 2006: Cyprus Airways (CYP) is closing in on full union approval for its restructuring plan, with four out of five unions having already given their go-ahead for a scheme aimed at trimming -C£21 million/$44.3 million from its cost base. It awaits the pilots' (FC) support. It expects the cuts to be finalized in the next few weeks and for everything to be in place by around March 1. It also will begin to implement new working practices among the remaining staff in the hope that the measures will gain European Commission (EC) approval for a state-guaranteed loan. As part of the effort to secure approval, the government has agreed to acquire the airline's charter subsidiary Eurocypria (ECY). The sale is expected to generate around C£14 - C£15 million.
February 2006: Cyprus Airways (CYP) narrowed its annual loss by -41.1% in 2005 to -CYP23.2 million/-$47.7 million from a -CYP39.4 million deficit in 2004 as cost reductions outpaced a slight drop in revenues. Turnover dipped -1.9% to CYP201.2 million as it shed one airplane from its fleet. Expenses fell -4.7% to CYP229.3 million despite a +CYP9.7 million rise in fuel costs. The company also earned +CYP4.1 million on equipment sales, leaving it with a 2005 operating loss of -CYP24.2 million, down -44.1% from a -CYP43.3 million loss in 2004.
(CYP) has submitted its restructuring plan to the Cypriot government and the European Commission (EC) for approval. In the interim, it said it has raised a short-term, government-guaranteed loan that, along with the pending sale of its Eurocypria (ECY) subsidiary to the government, will help it "maintain its liquidity at satisfactory levels." A long-term loan and share capital increase will finance the company once its restructuring is approved, it added.
March 2006: Cyprus Airways (CYP) contracted Mercator to handle its passenger revenue accounting operation. Mercator is part of the Emirates (EAD) Group.
April 2006: Eurocypria Airlines (ECY) signed a five-year engine maintenance agreement with SR Technics (SWS) for support of the (CFM56-7B)s on its fleet of four 737-800s.
May 2006: EuroCypria Airlines (ECY) is a charter subsidiary of Cyprus Airways (CYP), operating jet airplane flights to and from Cyprus and 50 European airports in 17 countries.
(IATA) Code: UI. (ICAO) Code: ECA (Callsign - EUROCYPRIA).
Parent organization/shareholders: Cyprus Airways Group (CYP) (100%).
Main Base: Larnaca International airport (LCA).
Hub: Paphos International airport (PFO).
International, Scheduled Destination: Munich.
1 737-8BK (33030, 5B-DBZ), CIT Group (TCI) leased - see photo.
July 2006: Cyprus Airways (CYP) finalized the sale of charter subsidiary Eurocypria (ECY) to the government, according to press reports. The deal, worth CYP13.5 million/$29.9 million, is part of the carrier's restructuring. The government said that the acquisition and spinoff of (ECY) were designed to create a second, debt-free scheduled carrier. (ECY) took delivery of its fifth 737-800 last month.
January 2007: 737-8Q8 (30671), returned to (ILF) AND leased to SunWing (SWG) as (C-GLBW).
April 2007: 737-8Q8s (30671, 5B-DBW; 30720, 5B-DBR), ex-SunWing (SWG), (ILF) leased.
December 2007: 737-8Q8s (30671, 5B-DBW), leased to SunWing (SWG) as (C-GLBW), (33699, C-GDBX).
November 2008: Aviareps will represent Eurocypria Airlines (ECY) in Germany and Austria under a General Sales Agency (GSA) agreement.
May 2010: 737-8Q8 (30671, C-GLBW), Sunwing (SWG) wet-leased.
August 2010: Eurocypria Airlines (ECY) has been bailed out by the Cypriot government in February through a 35 million EUR capital increase. The funding was required to pay off old loans that have become due in early 2010. Political discussions about the future of (ECY) have continued in Cyprus throughout the year so far with several parties and unions proposing a merger with Cyprus Airways (CYP).
Eurocypria (ECY) has launched new routes this summer season:
Larnaca - Hanover - Dresden - Larnaca: weekly, 737-800 service (already launched);
Larnaca - Leipzig/Halle: weekly, 737-800 service starting on November 5;
Paphos - Moscow Domodedovo: 2x weekly, 737-800 service started on March 28.
(ECY) has wet-leased a sixth 737-800 from Sunwing Airlines (SWG) for the winter season.
September 2010: The Cyprus Minister of Finance, Charilaos Stavrakis confirmed that the government will conduct a feasibility study to merge Cyprus Airways (CYP), which is 69% owned by the state, with charter subsidiary Eurocypria Airlines (ECY). The study follows (CYP) reporting a half-year loss of -€25.5 million/-$32.4 million.
A source close to (CYP) said (CYP) plans to sell its two A330-200s, which operate mainly on the Larnaca – London Heathrow and Paris (CDG) routes. (CYP)’s fleet also includes seven A320s and three A319s. Eurocypria (ECY) operates six 737-800s. (ECY), which has been state-owned for five years, was originally established as a charter subsidiary of (CYP) in 1991.